Corporate Profile

ZAHID JAMIL & CO

CHARTERED ACCOUNTANTS

Table of Content

1. 2. 3. 4.
4.1. 4.2. 4.3. 4.4. 4.5. 4.6. 4.7.

HISTORY OF ZAHID JAMIL & CO ____________________________________________ 1 OUR INTERNATIONAL ASSOCIATION ________________________________________ 2 ACCREDITATIONS _______________________________________________________ 4 SERVICES WE OFFER _____________________________________________________ 5
Assurance and Audit Services _________________________________________________ 6 Taxation Laws Services _______________________________________________________ 8 Corporate Laws and Secretarial services _________________________________________ 8 Accounting & Book Keeping Services ___________________________________________ 8 Business Advisory Services____________________________________________________ 9 Financial Management & Business Consulting Services _____________________________ 9 Outsourcing Services _______________________________________________________ 10

5. 6. 7.

OUR CLIENT BASE ______________________________________________________ 11 BOARD OF DIRECTORS __________________________________________________ 12 OUR OFFICE LOCATIONS & CONTACT C.E.Os _________________________________ 13

Profile & Directory of Services

1. HISTORY OF ZAHID JAMIL & CO

Since the establishment of Zahid Jamil & Co. Chartered Accountants in 1971 by Mr. Suleman Zahid Jamil (as sole proprietor), the firm has been committed to building wealth and security for our client by providing traditional accounting, auditing, taxation and consulting services to closely held businesses. As one of the leading national accounting, audit, tax and consulting firm in Pakistan, Zahid Jamil & Co has a history of steady growth. As Zahid Jamil and Co began to grow in numbers and experiences, its service also we offer also began to expand throughout the 1970s and 1980s. In 1992 a new service line of Information Technology was established and also during that time, the firm saw continued growth in financial services area. Human resource consulting services were also provided under the platform of Zahid Jamil & Co. In 1997, the firm became member of BKR International, which is an International Organization of accounting and audit firms. In 2000 the firm (after resigning from BKR International) joined Prime Global (Currently Prime Global). Since 2005, the Firm started to provide Business Risk and ERP (Enterprise Resource Planning) Consulting Services which include Information System Audit, Business Process Re-engineering, and Development of customised and industry specific ERP Solutions and Implementation of off the shelf ERP Solutions. Now, we continue look towards the future and follow our vision plan. We also remain focused to our clients needs and continue to develop quality, timely and innovative solutions.

Profile & Directory of Services

2. OUR INTERNATIONAL ASSOCIATION

We are a Member Prime Global - one of the biggest association of professional services Firms in the World. The substantial increase in size for the merged association will enhance Prime Global member firms' ability to provide resources to meet growing international client demands, as well as dramatically increase member firms' ability to benchmark and share ideas to improve operations and profitability. Founded in 1977 and 1978, IGAF Worldwide and Polaris International moved on a parallel track for decades, with Polaris growing strong in Europe, and IGAF expanding rapidly in North America. In the early 1990s, because of the European Common Market, the firms of Fidunion International also saw the benefits of grouping together. All three associations grew side-by-side, a system sustained by strong geographic exclusivity. One city, one member, and sometimes one country, one member! Prime Global numbers over 350 firms in 90 countries, with more than 800 offices, 2,200 partners, and 17,000 staff offering their thought leadership to help other member firms and their clients succeed Prime Global members are typically regional, full-service public accounting and management consulting firms. These highly successful independent firms, with multiple offices in major metropolitan areas, provide technical assistance in traditional accounting and auditing, tax services, and specialized services such as privatization support, fiscal management support, streamlining accounting systems, litigation, strategic planning, business valuations, information technology consulting, system planning, and law firm services. Because Prime Global is one of the largest associations of its kind in the world, it provides member firms with the strength and capabilities of a large, worldwide organization with diverse technical skills and geographic representation not possible for a local firm alone. Members exchange technical advice and assistance in every service performed by the profession. Prime Global members are selected based on exacting requirements for size, reputation, areas of practice, diverse technical capabilities, and geographic location. These requirements must be met not only to gain admission but also to retain membership. Periodic inspections ensure that member firms continue to meet 2

Profile & Directory of Services

these membership requirements. Disclaimer "Zahid Jamil & Co is a member of Prime Global, a worldwide association of independent accounting firms and business advisors. Prime Global does not and cannot offer any professional services to clients. Each Independent member of Prime Global is a separate firm and an independent legal entity. Prime Global is not a partnership and independent firms are not acting as agents of Prime Global or other independent member firms

Profile & Directory of Services

3. ACCREDITATIONS
The firm is on the approved panel of

Securities and Exchange Commission of Pakistan (SECP)

Institute of Chartered Accountants in England & Wales (ICAEW) Institute of Chartered Accountants of Pakistan Institute of Cost & Management Accountants of Pakistan (ICMAP) Pakistan Institute of Public Finance Accountants (PIPFA) State Bank of Pakistan (SBP)

International Air Transport Association (IATA)

Federal Board of Revenue (FBR)

Karachi Stock Exchange (KSE)

Islamabad Stock Exchange (ISE)

Lahore Stock Exchange (LSE)

Profile & Directory of Services

4. SERVICES WE OFFER

Zahid Jamil & Co (ZJ) maintains the highest standards of professional independence and quality and risk management (QRM). It provides a comprehensive range of seamless, consistent, high quality client services worldwide. These include Assurance & Advisory Business Services (AABS),Tax Compliance and Advisory Services, Business Risk Services including Internal Audit, Technology & Security Risk Services (TSRS), Transaction Advisory Services (TAS) including Corporate Advisory Services and Business Advisory Services (BAS). ZJ recognizes that to deliver real value to its clients, it must anticipate and address the challenges arising in their industries. One of the key benefits the Firm offers its clients is its ability to provide integrated services along industry lines. ZJ in its commitment to observe worldwide professional standards of excellence firmly believes in its culture, values and conviction. The culture being to be creative, resourceful and decisive, driven by belief in the dictates of professional independence, integrity, respect and our passion for excellence. To inculcate strong sense of leadership in our people to lead their teams, it provides enabling environment to manage their own careers, assume personal responsibilities to serve clients and exceed their expectations. The leadership culture is all-pervasive throughout the Firm and provides ample opportunities to our people to be decisive in action, pragmatic in approach, and aggressive in execution of service. 1. Assurance & Audit Services 2. Taxation Laws Services 3. Corporate Laws & Secretarial services 4. Accounting & Book Keeping Services 5. Business Advisory Services 6. Financial Management & Business Consulting Services 7. Outsourcing services

Profile & Directory of Services

4.1.

ASSURANCE AND AUDIT SERVICES

In a world shrinking in distance and economically becoming increasingly border-less, the success of the business is pre-dominantly heavily reliant on reliable financial information which promotes confidence and mitigates an array of uncertainties. Credible information needs to be corroborated by the desired level and kind of professional assurance ranging from statutory audit of financial statements to a variety of other forms of assurances and attestations consistent with the varying needs of the users of such information. Traditional audit has thus undergone a quantum and substantive change from auditing the financials to auditing the business. We provide a wide range of assurance services, with the primary focus on the objective of assurance on the reliability and relevance of financial information and a host of nonfinancial aspects, data, processes, operations and procedures and on the effectiveness and efficiency of controls.
Our Audit Methodology

Our Audit Methodology enables us to provide effective and efficient delivery of quality assurance services. The significant features of GAM are a sharp focus on business risks specific to a client, a higher degree of emphasis on reliability and tests of controls, analytical review, building and sharing knowledge, skeptical approach, teamwork and Partner - Manager Involvement through all the significant phases of an audit. Our principal audit and assurance services include: Statutory Audit Tax Audit Cost Audit Portfolio Audit Insurance claims-compilation and validation Compilation, review and validation of prospective financial statements Review and compilation assignments Fraud Investigation and Dispute Services
Statutory Audit

Commonly referred to as financial audit, this is carried out, both for domestic and multinational enterprises, which may be public or private limited companies, branches of foreign entities, representative and liaison offices of offshore companies, construction and for other projects, provident, pension, gratuity and other employee-benefit funds, trusts, charities and nongovernmental organizations. The scope of audit is generally governed by the company law framework or other statute as applicable. Assurance expressed and communicated through a professional opinion on the truth and fairness of the financial statements audited constitutes the core objective of a statutory audit. The audit has to conform to the International Standards on Auditing (ISAs), issued by the International Federation of Accountants (IFAC), as applicable in Pakistan. In addition to the short form opinion on the financial statements, a separate issue-focused Management Letter or a Memorandum on significant internal control weaknesses and business risks and issues is provided to the management helping them to take necessary remedial measures well in time.

Profile & Directory of Services

Tax Audit Both for direct and indirect taxes, tax authorities occasionally engage external professional assistance to provide assurance on compliance with various aspects of the Income Tax, Sales Tax and other tax statutes. From a comprehensive assurance on the declared operating results of a tax payer to any specific aspect of tax compliance, the scope of engagement varies from case to case depending upon the degree of assurance sought by the tax authority on the reliability of such declarations, taxes withheld and deposited, input-output adjustment for sales tax purposes and such other aspects of compliance. Cost Audit Assessing cost effectiveness and cost control is becoming an increasing concern of responsible managements aiming for a growing market share at competitive costs and optimum realisable prices. Cost audit and studies thus play an important role in optimising use of enterprises resources and in reaping the benefits of customer-satisfaction. These audits are carried out on a set of historical costs or based on standard or projected data for achieving specific business objectives. In Pakistan, costs audit is mandatory in terms of Company Law requirement for certain classes of companies engaged in production, processing, manufacturing or mining activities, such as cement and edible oil industry. Portfolio Audit In the context of banks, financial institutions and other enterprises in the financial services sector, the quality of the loan portfolio has singular significance. Portfolio audit, therefore, is carried out to determine, by review of records, documents and evaluation of collaterals, the extent of non-performing accounts and in consequence, assess the adequacy or otherwise of the corresponding provision for doubtful debts.

Profile & Directory of Services

4.2.

TAXATION LAWS SERVICES

A. Corporate Taxation Services B. Tax Due Diligence Review C. Personal Taxation services D. General Sales Tax (GST) Planning, consultation, compliance and reporting service

4.3.

CORPORATE LAWS AND SECRETARIAL SERVICES

4.1. Strategic Corporate Consultation 4.2. Secretarial and Corporate Compliance Reporting Services 4.3. Public Floatation Services for share and other securities 4.4. Share registrar services 4.5. Privatization 4.6. Foreign Investment Facilitation and Consultation. 4.7. Corporate Governance Enablement 4.8. Liquidation Proceedings 4.9. Advisory Services and Support to Not for Profit Organizations

4.4. ACCOUNTING & BOOK KEEPING SERVICES

1. Use of our staff at the clients premises or Zahid Jamil & Co premises to carry out book keeping accounting under our supervision. 2. Preparation and analysis of accounts on a periodical basis, for management review. 3. Making out all statements and returns required for submission to the various associations and government authorities. 4. Providing assistance on preparation of various management and financial reports required for decision-making.

Profile & Directory of Services

5.

Offshore online Accounting and Book keeping services are also provided with the help of offshore book keeping software and high speed DSL Internet Connection.

4.5.

BUSINESS ADVISORY SERVICES

1. Foreign Investment Facilitation and Consultation 2. Financial Litigation and Dispute Resolution Support 3. Contract Consulting Services

4.6.

FINANCIAL MANAGEMENT & BUSINESS CONSULTING SERVICES

Services are directed towards: 1. Helping clients evolve their mission statements. 2. Strategy development to reap rewards of change which is accelerating exponentially and manage risks implicit in the venture. 3. Appraise business proposals and develop a range of options for enhancing enterprise value. 4. Identify value drivers of business. 5. Undertaking performance management appraisal. 6. Helping change-management and change-enablement. 7. Assisting in strategic financial planning process. More specifically, these services include: 4.1. Feasibility studies 4.2. Strategic financial planning and management 4.3. Valuation and appraisal of assets and businesses 4.4. Profit and performance management strategies 4.5. Business strategic planning 4.6. Corporate recovery and turnaround services 4.7. Business Risk Consulting

Profile & Directory of Services

4.8. Computer Risk Management (CRM) 4.9. Business Process Re-engineering

4.7. OUTSOURCING SERVICES

Outsourcing of non-core activities and function, on a complete or partial basis, customized to the specific needs of various clients, have assumed a wide dimension embracing multifarious task and services which include: 1. Managing finance and accounting department. 2. Undertaking book keeping and accounting task, both manual and technology-based system including preparation and processing of underlying documents.

3. Payroll preparation and related services 4. Internal audit on a comprehensive, continuing or need-specific basis restricted to specific department, division, function and activities prompted by risk orientation and risk assessment. Staff secondment on short or long term basis for carrying out various designated functions under managements own control and supervision. Processing of high-volume transactions involving repetitive function and processes, such as data input for stand-alone or network solution. Preparation and handling of monthly and periodical returns / statements prescribed under Income Tax Law, withholding tax statement, challans and related tasks, monthly and quarterly sales tax returns and reconciliation with related records and Handling of expatriates executive remuneration matters.

5. 6. 7.

8. Support services to international lending and donor agencies 9. Assistance and coordination in determining and handling payment and tax aspects of dues payable to employees under severance and retirement benefit schemes, Golden handshake Schemes or any other

10. Voluntary retirement or severance scheme.

10

Profile & Directory of Services

5. OUR CLIENT BASE

The clients serviced by us are small to large, both in public and private sectors and are engaged in the following diversified range of business:

Automobile Aviation Banking and investment Broadcasting and electronic media Cement and Tiles Charities, Foundations and NGOs Communication Construction Distribution Engineering Financial Institutions Food, beverages and allied Foreign donor organisations Glass and ceramic Government agencies Health care and hospitals Hospitality Institutions, Clubs and

Insurance Leasing Leather and tanning Modarabas and Mutual Funds Oil and gas Paper and allied Pharmaceuticals and chemicals Poultry and dairy farm Power and utilities Publishing and media Security and brokerage houses Share depository Stock exchanges Sugar Telecommunication Textile and garments Tobacco Transport - Airlines and Shipping

11

Profile & Directory of Services

6. BOARD OF DIRECTORS
NAME
Suleman Zahid Jamil FCA,FPA Muhammad Zakaria Loya FCA Muhammad Mazhar Arshad ACA Muhammad Amin Sheikh FCA Rasheed Ahmad Sheikh, M.Com, L.L.B , Advocate Supreme Court of Pakistan Ehtisham Suleman Zahid, FCCA Arslan Haroon Khawja ACA

STATUS
Chairman/ Founder / C.E.O Lahore Office Director / C.E.O Karachi Office Direcor / C.E.O Islamabad Office Director / C.E.O Faisalabad Office

AREAS OF SERVICE
All Services

CONTACT INFORMATION
zahidjamil@zahidjamilco.com Cell # : 0321-8546565 zakaria@zahidjamilco.com Cell #: 0321-2367447 infoisb@zahidjamilco.com Cell #: 345- 5544164

Audit & Taxation Services Audit & Taxation Services

Audit & Assurance mamin@zahidjamilco.com Services Cell #: 0321-8664404 Taxation & Other Laws Services rasheedahmad@zahidjamilco.com Cell #: 0300-4746458 ehtisham@zahidjamilco.com Cell #: 0321-8667565

Director

Director

Taxation & Accounting Services Consulting and Business Risk Management Services

Director

arslan@zahidjamilco.com
Cell# 0300-9722080

12

Profile & Directory of Services

7. OUR OFFICE LOCATIONS & CONTACT C.E.OS

LOCATION

CONTACT C.E.O

KARACHI
Abid Chamber (Formerly : Al- Yousuf Chambers) Sharah e Liaqat, New Challi Karachi 74200. Tel : 92 21 2639066, 2639511 Fax : 92- 21- 2621234 E-mail : infokhi@zahidjamilco.com MUHAMMAD ZAKARIA LOYA Cell # +92-0321 - 2367447 0321 - 2367447

LAHORE
Office No. 234-235, 2nd Floor Land Mark Plaza, Jail Road, Lahore Tel :92-42-35877817-18 Fax : 92-42-35877820 E-mail : infolhr@zahidjamilco.com SULEAMN ZAHID JAMIL Cell # +92-321-8546565

FAISALABAD
Al-Jamil Heights, 7-Medina Town Ext. Kohinoor Chowk Off, Jarnawala Road, Faisalabad Tel : 92-41-87205065-68 Fax : 92-41-8725070 E-mail : info@zahidjamilco.com MUHAMMAD AMIN SHEIKH Cell # +92-321-8664404

ISLAMABAD
Office # 443, Street # 40, I 8/2, Islamabad Tel: 92-51-8317545 Fax: 92-51-4435640 E-mail: infoisb@zahidjamilco.com Muhammad Mazhar Arshad (ACA) Cell# +92-345-5544164

13